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PacketVideo makes software for viewing video on your mobile handset, and they just became $45.5 million richer after Japanese operator NTT DOCOMO purchased a 35% stake in the company. NTT DOCOMO has already shipped 90 handsets with their software on board; now as an investor, they may have their say into the future direction of the company and a reduction on royalty fees.
Toshio Miki, Associate Senior Vice President, Managing Director of Communication Device Development Department for NTT DOCOMO, said: “PacketVideo has been a key supplier of software to DOCOMO and has made important contributions to the success of our services in the Japanese market. We are pleased to become an equity partner of PacketVideo and are very confident of the company’s continued growth and long-term success.”
James Brailean, Ph.D., CEO of PacketVideo said: “We are honored to welcome DOCOMO as an investor. We are building on our unique and highly successful relationship with DOCOMO to further strengthen PacketVideo’s position in developing the best in class media experience, regardless of format or platform. PacketVideo is the global leader in delivering rich media solutions for mobile operators, and DOCOMO’s support will enable us to accelerate our innovation and growth.”
For what it’s worth: PacketVideo is also a member of the Open Handset Alliance
[Via: NTT DOCOMO and NewTeeVee]
About The Author
Stefan Constantinescu
Stefan Constantinescu (@WhatTheBit on Twitter) has loved technology since as far back as he can remember. It started with computers, but in the past few years his passion has turned to mobile devices. As a mobile phone enthusiast who lives and breathes devices that connect to the internet, he knows he is not alone with this radical fascination of all things wireless. He is strongly opinionated and enjoys a good debate so leave comments in his posts and he’ll get back to you! Stefan began blogging as a hobby in the fall of 2006 and joined IntoMobile in the summer of 2007. Later he got a job at Nokia in March 2008, but as of June 2009 he has rejoined the IntoMobile team. He is currently based out of Helsinki, Finland.
